MOROCCO
A SUPPLEMENT TO EUROMONEY/FEBRUARY 1998
Investment hits new highs
After over a decade of IMF-sponsored structural reform, Morocco’s growth remains volatile, not least because of dependence on fluctuating agricultural production. The good news is that the country is attracting unprecedented amounts of foreign investment. Philip Eade reports
Last year direct foreign investment to Morocco reached $1.2 billion, four times the 1996 total. Recent high-level visits by such banks as HSBC, JP Morgan and Barclays indicate foreign recognition of opportunities for project finance and advisory mandates in the power, infrastructure and telecoms sectors as the country prepares for economic integration into the European Union in 2010.
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